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Tuesday, February 04, 2003

Park Avenue Hiring Subadvisors

by: Sean Hanna, Editor in Chief

Guardian Investor Services has rolled out two new funds sub-advised by UBS Global Asset Management. The new funds -- Guardian UBS Large Cap Value Fund and Guardian UBS Small Cap Value Fund -- are part of the family of Park Avenue Portfolios.

The new offerings are part of an effort to expand the fund family though the use of subadvisors. UBS Global was picked for its expertise as a value equity investor. Bruce Long, president of GIS, said that the unit of Guardian Life will seek to add more style-specific funds as "opportunities present themselves."

"We are focused on delivering top tier investment management capabilities to clients, and we are excited about working with a premier organization like Guardian," said Brian Storms, chief executive officer of UBS Global Asset Management (Americas) in a statement.

"The new funds add a strong value component to The Park Avenue Portfolio, which has traditionally focused on core equity and bond funds", said Long. "Until now Guardian's focus has been to provide our clients with superior core funds, designed to be the foundation of investors' portfolios.

The new funds will also be sold through the Park Avenue 401(k) PLUS retirement plan and variable annuity options as well as through its traditional fund distribution network.  

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